“Unfortunately, Bill over-promised and under-delivered on this presentation,” said Vijay Marolia, a fund manager at Regal Point Capital Management. Several other hedge fund managers said that they were recent buyers of the stock, and were not convinced to sell by Ackman’s presentation.

“Her resignation tells me there was probably disagreement and possibly bad blood between the board and the auditors,” Vijay Marolia, chief investment officer at Regal Point Capital Management, a short seller, said in an e-mailed comment. “I believe PwC smells something fishy. At the very least, they’re making sure all the bases are covered.” READ MORE >>